Trade Desk (NASDAQ:TTD) Given Overweight Rating at Piper Sandler

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They presently have a $110.00 target price on the technology company’s stock, down from their previous target price of $140.00. Piper Sandler’s price target would indicate a potential upside of 30.83% from the company’s previous close.

TTD has been the subject of several other reports. Wedbush upped their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. UBS Group boosted their price target on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JMP Securities cut their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research report on Thursday. Susquehanna reduced their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, BTIG Research raised their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $126.77.

Trade Desk Stock Down 31.2 %

Shares of NASDAQ:TTD traded down $38.15 during trading on Thursday, reaching $84.08. 24,521,936 shares of the company traded hands, compared to its average volume of 4,747,246. The firm has a market capitalization of $41.50 billion, a PE ratio of 137.48, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 52 week low of $72.21 and a 52 week high of $141.53. The company’s 50 day moving average is $123.20 and its two-hundred day moving average is $115.54.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. As a group, research analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of the business. Ithaka Group LLC raised its stake in shares of Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares during the period. Venture Visionary Partners LLC lifted its holdings in Trade Desk by 33.0% during the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after purchasing an additional 4,296 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. Assetmark Inc. raised its position in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.